I am a shareholder. have been for a while
otherwise I wouldn't give a fuck
why are you ok with not seeing proof of reserve nostr:npub1ng8zqsa04gzk5y4ch0nh43xrrpwqu27ydvf24s2cdzg5gv3upc7qycqjc0?
Aren't you a bitcoiner?
Discussion
If you trust and believe in a company (MSTR) and a leader (Saylor) so much so that you give them your capital, then why would you distrust them having the bitcoin and their reason for not sharing the addresses with everyone?
They are a publicly traded company in the US. The SEC, who hasn’t been too hot on bitcoin until now, is not taking Saylor’s word on them having the bitcoin. Furthermore, there is no incentive for Coinbase and Fidelity to sell MSTR paper bitcoin, especially after seeing what happened to SBF.
The orange piller mantras is not how the real world works.
Revealing their addresses will expose when and how they acquire bitcoin, which has security implications and could have negative impacts on how they deploy their ATMs and convertible bond offerings.
Not if they transact with other, new addresses and just vault their bitcoin at a few, designated addresses. Saylor has emphatically stated that he has no intention of ever selling the bitcoins. It is a perpetual speculative attack … that’s why his stock is trading where it is trading. He says that in his most recent interview with Brains podcast.
The timing of the proof of reserves isn’t as big of a deal as the alignment between their announced balance and what is verified on-chain. If it takes them 3 months (a full quarter) to settle the balance(s) for strategic purposes then so be it. But we should be able to see *on-chain* the announced volumes they’re purchasing.
The “just trust me” line shouldn’t be tolerated by MSTR shareholders. We don’t have to trust…that’s why bitcoin is a superior asset.
MSTR shareholders are not orange pillers
They never promised proof of reserves would be available to everyone and their mothers. The only thing they owe shareholders is results, which they have more than delivered. Anyone that doesn’t like how Saylor runs his business is welcome to sell their shares.
If they are rugging (which maybe they aren’t but it isn’t confirmed because they’re not doing proof of reserves) it will impact the entire bitcoin market. Including those who choose not to invest in MSTR. And as long as the bitcoin price remains volatile, it slows adoption and slows development of important products like Bitcoin collateralized loans (see Battery Finance) to purchase and improve “tangible” assets without having to sell a stack.
So yeah, I care about this because I want to start doing more with my life than just hodling. I’m not a software guy…I’m an operations guy. Applying my stack to physical infrastructure is important to my personal strategy.
Couldn't agree more.
I guess I'm an "Op Bro" whatever the fuck that means because I want to see proof of reserves.
I don't think it's a big conspiracy that coinbase might not have the amount of bitcoin they claim to.
Would that affect MSTR? Probably not.
But we'll never know the real price of bitcoin if these paper bitcoin games are allowed to continue.
We need to normalize proof of reserves if we ever want to see the real value of bitcoin.
I didn't really expect bitcoiners to argue this point tbh.
It has been super weird to see the pushback.
Everyone could just start claiming big bitcoin purchases.
“I’ve bought *** BTC as my treasury reserve asset. Give me more money to buy more.”
Projection my fren.
This is something you might do?
See, I wouldn’t do that. Because it’s illegal.
And my bet is that neither will Saylor.
And he’s been transparent (overly so IMO) on what he’s doing. He open sourced his methods for other companies to follow. He’s discussed his reserves & signed off on them in public disclosures.
This is the opposite of what a scammer does. Polar opposite.
Get a grip fren. Have some hot chocolate & stare at the fireplace. It’s nice. 👍
So you're trusting someone else.
Defeating the whole point of bitcoin.
Got it.
A company’s equity is not bitcoin
MicroStrategy didn’t adopt a Bitcoin strategy so they could virtue-signal to the ops by doing proof of reserve and holding their own keys. Saylor is here to win, and he will do it as he sees fit.
